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India is on track to overtake China within the next year or two as the world's most populous nation, pandemic or not. So, while near-term forecasts suggest that the current health crisis has slowed industrial growth, and thus muted the expected rise in demand for energy, India's baseline metrics are not likely to change, nor will the country's impact on global energy markets. By 2040, India will be the world's biggest energy consumer, and the country is betting on natural gas, developed in parallel with renewable energy, to reduce its carbon footprint, which, in 2020, saw India ranked third in greenhouse gas (GHG) emissions after China and the United States, according to the International Energy Agency's (IEA) India Energy Outlook 2021. Gas demand is growing, too, as the Indian government sees gas as critical to controlling carbon emissions while it develops renewables in parallel to provide energy to a population that is forecast to grow to 1.6 billion by 2040. Now fast-forward to 2040 when India is projected to account for 25% of the growth in world energy demand, more than any other country, according to the IEA's Sustained Energy Policy Scenario outlined in its 2021 outlook.
In September 2005, the African petroleum industry will host the 18 th World Petroleum Congress (WPC) in Johannesburg, South Africa.
Global energy consumption has climbed steadily over the years, fueled by a resurgent world economy, characterized by widespread growth in industrialized economies and rapid industrialization in middle-income, developing countries. The rapid increase in the demand for energy around the world has created a disparity in consumption levels, both within and between countries. The increase in the global demand for energy has triggered an upsurge in the prices of crude oil, which remains the world's most popular source of primary energy. However, the realization that crude oil production and reserves are gradually peaking in some major producing regions of the world is forcing industrialized economies to find alternative sources of energy to complement their traditional dependence on crude oil. Unlike oil, natural gas reserves are increasing steadily around the world, with many countries now interested in its rapid commercialization. This trend has driven up proven global gas reserves, which have doubled in the past couple of decades. The need to diversify energy sources to propel industrial activities in Developed Market Economies has aroused interest on the huge African gas reserves. Algeria has the largest gas reserves in Africa and is also the leading producer in the region. Nigeria, Libya and Egypt follow this position. While the North African producers have seized global market opportunities to earn revenue from gas exports, most of sub- Saharan Africa's gas associated with oil has been flared, with serious consequences to environmental sustainability. However, different gas development projects have emerged in Africa, as policymakers have been inspired to commercialize the huge stocks of the region's gas reserves. Nigeria presents an example of recent commodification of gas aimed at regional economic integration and meeting the upsurge in the global demand for natural gas.
GLOBAL ENERGY ASSESSMENT: AN OVERVIEW
An energy system comprises an energy supply and energy end-use technologies (UNDP, 2000). It exists to deliver to consumers the benefits that energy offers. Energy services describe these benefits, which in households include illumination, cooked food, comfortable indoor temperatures, refrigeration and transportation (UNEP, 2000; UNDP, 2000). Energy is closely linked to economic development and environmental sustainability. It is key to global economic performance, providing power that is critical for industrial production, commercial activities and agriculture. Figure 1 shows an energy chai.
(Figure in full paper)
The Figure illustrates an example of an energy chain, beginning with coal extraction from a mine and ending with produced steel as an energy service. The energy chain delivers energy benefits, with the process beginning with the extract action of primary energy that may be converted into energy, which carries such products or services as electricity or diesel oil suitable for end uses. Energy end-use vehicles, machinery, etc converts final energy into useful energy, which provides the desired benefits (UNDP, 2000).
Energy consumption Trends
Global energy use has risen steadily in the past few decades, driven by economic expansion in industrial economies and increasing industrialization in the developing world. The global energy profile however is characterized by wide disparities in energy consumption both within and between countries.